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Search Results 0 to 49 of about 62 (some duplicates have been removed)
's response to a hurricane. he was in two weeks after hurricane katrina. are you confident that fema is prepared given the sheer size of this storm, almost a thousand miles in dimer. >> it is a huge storm and the impact will on the storm is so big, it is impacti sever states from dall the way up to maine at the same time. but i am rae very comfortable. we have a great administrator running the organization. he gets it, he's from florida, a good emergency manager. doesn't run around with his hair on fire. so i'm confident they will do a good job. >> on a conference call today n fact, your successor, mr. fugate said the disaster fund at fema has a billion dollars in t more or less. is that enough for this kind of response that will be necessary? >> probably at the end of the day the expenses will be more than that. but yes, it's enough for now. what the president has de, he psident has done a prelandfa declaration of all of the states up the east coast. so that allows the administrator to move supplies in now, move people in now, rescue teams in, and to get ready, work with those emerg
costs will surpass those from hurricanes irene and katrina. although there are countless businesses hurt, others could see a boost. erika miller reports. >> reporter: when you consider the massive amounts of flooding, downed trees, and damage to transportation networks, it could take days-- if not weeks, to tally up the financial costs from the storm. but already there are predictions sandy will be the most expensive clean-up in u.s. history. the most serious damage appears to be caused by flooding along the east coast. according to economic tracking firm i.h.s. global insight, property damage will likely surpass $20 billion. add to that as much as $30 billion in lost business, and the total financial toll could end up being close to $50 billion. hotels, stores, airlines, and restaurants have lost business they wot get back. insurance companies will have to make big payouts, which will likely mean higher insurance premiums for customers down the road. here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global p
airlines to talk about the impact on the industry and the man who led fema during hurricane katrina will tell us what the federal emergency agency should expect from this storm. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use, it's the ultimate combination of speed, small size, and low-cost printing. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. ♪ ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >> we talked
, some are now drawing comparisons between this superstorm and katrina. so just how do they measure up? cnn meteorologist severe weather expert chad myers is taking a closer look. he's joining us now. how do they measure up, chad? >> well, first of all, the storm surge with katrina was enormous. almost three times more of a wave or of a surge with katrina as bay st. louis was about 28 feet. manhattan island, downtown, the battery, had about 9.5 feet. haven't seen too many numbers higher than that. 9.5 feet moving into the city comparing to moving into the bay, obviously there's a town there and all the way do biloxi, it's the population density in new york city that is going to -- and in new jersey and connecticut, that is going to put this way up in the record books. katrina, $145 billion in damage. andrew, this is cost for adjusted inflation $43.5 billion. and looks like somewhere sandy will fall somewhere between katrina and into andrew. so probably number two on the scale for dollar damage. now, when it comes to deaths, it's disturbing, wolf, to see and hear how quickly the fatalit
government has stepped in to help. this is the third hurricane i've covered in my lifetime, andrew, katrina and now this. we are at the point where the population gets furious and they turn on the government. the government can just not handle the huge, huge logistical requirements that happen after a storm like this. could this actually turn on the president at some point here? >> reporter: i don't think so. i think what the president has had the opportunity to do is show americans that he was involved in an effort that the country was rallying behind and do his job in a way that got praise by the keynote speaker at the republican convention, chris christie, very tough critic of the president otherwise. so i don't think many voters are going to blame president obama for what's going on right now, and leave aside the fact that the states in which the difficulties are occurring db new york, new jersey, connecticut are all reliantly democratic states. what is much more important to the outcome of this election, michelle, is what's going on behind me at this afl-cio phone bank where union volu
than irene's 15.8 billion, last year. but far below katrina's 108-billion dollars and 18-hundred deaths and missing in 2005. unless there is damage to infrastructure, economists say ports and rail yards will make up for lost business quickly. some stock trades, perhaps not--because a light week was expected pending the outcome of the presidential race, a week from now. among insurers, allstate, travelers and chubb corp have the largest market share in sandy's path. corelogic, estimates it includes 284,000 homes worth $88-billion dollars. economists are mixed on whether the storm's impact will affect fourth- quarter g-d-p. mark vitner, senior economist with wells fargo securities says it depends how much is shut down and for how long. mark zandi at moody's analytics says the storm may cause spikes in economic activity--repairing and rebuilding. depsite the storm-- the government is expected to report unemployment numbers for october this friday. phone companies along the east coast are preparing for the likelihood of overtaxed communication infrastructure during hurricane sandy. at&t is
of gasoline as opposed to the producer, and some other hurricanes like katrina and irene before, they've hit an area that has been a big producer of oil, whereas really, in the northeast, they are the consumers of all of that gasoline, and so demand has dropped, but the supply hasn't really dropped as much. > > so the demand is dropping, especially as people are stuck home and not going to offices for instance. > > right. flights are canceled, and people are not driving around as you said, so the demand there has dropped, and that, interestingly enough, has pushed some prices in the southeast region down even further because that oil that usually would have gone to the northeast has dropped off a little bit. > > so much of this boils down to what's going on with the refineries. so what do you anticipate there? you know, we think that this is going to be just a temporary shutdown in the northeast region, and that, as i said earlier, we are going to continue to see prices continue to drop, and demand will come back up after the hurricane is through. > > quick predictions now: where do you see
katrina devastated new orleans, it seems all the relevant agencies were ready this time, up to speed, especially fema, the federal emergency management agency, that was criticized in 2005 being widely lauded now. the president himself was up all night from monday to tuesday in the situation room in the white house monitoring the situation. now he is touring the disaster areas, especially in new jersey, so he seemed very much concerned and seemed to do everything he could to help the people. he has been applauded even by republican competitors for this. one of his harshest critics has always been new jersey governor chris christie, and this man said that obama was doing an outstanding job. >> elections are right around the corner next week, and campaigns have resumed. it is a difficult question to ask, but who has actually profited from the situation? >> for mitt romney, it is a difficult situation because national disaster times are times when politics are supposed to be put aside, so campaigning too early might hurt him, but it is the only thing he can do because he does not have an
what is going on. and the first thing we noticed was how much it felt like katrina. but it was much different in casualties with katrina, but then looking in the windows, and seeing men, women and children waving at us. most of them were smiling. the reason most of them are smiling is because the water has gone down a bit. the feeling is that it will continue to go down and they will be perhaps to start walking out of their houses tomorrow. it's not guaranteed yet. we saw scores of people waving at us, waiting to get out of their homes. we saw people trying to leave on their own. they seemed confused. a few people were driving through the water and so the cars got stuck and they could not push them. a police officer got out and went to rescue the people. took the woman on his shoulder and brought her to the shovel we were sitting in and the mayor and i helped to pull the woman in and the two other people in, that's the situation. it's incredible. right now, there are people in the dark and cold, waiting to be able to come out of their homes safely. >> it's amazing as you tell it. ga
. staten island, new york we are hearing comparisons to katrina and its aftermath. this is why. look at the trash piling up. dirty water flooding the streets and a stench hanging in the air. people are hungry, they are cold. they are look for things to eat. clean water, dry clothes. their homes swept off the foundation by surging waves or swallows by soggy marshes. they are expressing a growing sense of anger. >> come here and walk into these streets where the water is this high and put waders on and see what it's about. not the outskirts. there is a lot of people trapped in here still. >> i don't have anywhere to go. i don't have no clothes. all the clothes i have on they gave to me at the center. >> 22 years in my home and i lost it. megyn: you can donate to the red cross if you want to help these folks. by the numbers, 19 of the 41 people who died in new york city lived on staten island. three of them were children. hundreds of homes have been destroyed and the power is out for every one in 10 staten island residents. >> reporter: the residents of staten island are calling their c
, there is debris everywhere but there isn't just devastation. this is an katrina that watch everything away. these buildings still exist. there is a heck of a clean up here to do but this can come back. a little worse down the beach in seaside heights and atlantic city but it will come back but look. look at this debris. junk everywhere. this is going to take a while. this is the roof of the tiki bar which is 300 yards up the beach. this was the roof of it and that is deposited here. i leave you with this shot at the atlantic ocean. it occurred to me today that as i look out there it is almost like nothing happened. the ocean is saying i was upset but i am calm now. i may not stay calm forever but you are good for while. connell: that pictures of beautiful and to come back to the isolation is jarring. what stood out to you today? today is the first day you had a chance to walk around the. >> exactly. the first sunny day. the first real nice day. you hit it exactly right. the contrast in the devastation and the beauty. this is typically what we see after hurricane. took a couple extra days b
is the main cause of damage and the top cause of damage in hurricane katrina, isaac, irene and it has been the top cause of damage since 1980. that is the first time mine -- munich re, the insurance company, started to look at hurricane related events. look at storm surge. i will see where the deep parts of the flooding will be felt along the eastern seaboard. look at this possible surges surpassing six feet. you will see how much it goes inland. because these are sigh loan force winds. we also have a full moon, high tide will be hitting tonight at around 8:00 p.m. eastern time. melissa: wow. >> that is expected to add two to three inches to the storm's surge. so that's the problem here. so when you add texas, add oklahoma and new mexico and arizona into the circumference of it, the total circumference but the problem is insurance policies tend not to cover flooding. you have to buy a separate insurance policy to cover flooding. that is the thing homeowners and businesses need to owe. melissa: i thought it was separate issue flooding from a hurricane or just looding? >> that is important
know, put katrina at one end. that was $100 billion. put irene at another end. that was a $13 billion event. i've seen 30 to 50. it feels, especially after you see that aerial video of what happens on the shores of new jersey, like it may be more along the 30 to 50 range when you talk about total property damage and you talk also about lost business activity. it was down in wall street. >> especially at a time when the economy was -- there was a sense it was starting to slow down again. we haven't had the strongest economy anyway. are we more vulnerable to this? >> i don't want to say there's an up side to this, but you could have a situation where some of the construction and some of the rebuilding happens in the same quarter where you had the business loss, so you have a really net no change to gdp. if there are major construction projects undertaken -- for example, let's say they decide the biggest financial center in the world should not be a foot over sea level, that's a major investment that could have a positive back on gdp. >> that's a great point, steve. as far as the idea th
're certainly there. that's the kind of work that we do. we did it during katrina and rita back in the '05-'06 time frame as you know. our emergency response crews are ready to go. we have teams staged and our emergency response center is staffed here at norwell. you know, we expect over the next, you know, 24-48 hours to be activated and help and deal with any kind of issue that our clients have out there. >> let's talk about your acquisition of safety clean. i have a piece in my hand, august 9, 2012, credit suisse, somewhat negative piece about your company saying it's more cyclical and tied into the oil and gas business than we realize. listen, it's too levered to that cycle. safety clean acquisition changes the whole rationale against owning clean harbors, doesn't it? >> well, i think it does. it's $1.4 billion revenues of environmental service work. it's going to work nicely into our disposal assets. safety clean really is a leader in three areas. the leader in handling small quantities of waste generated by a number of industries out there. over 200,000 different customers out there.
how much money geico has made since the katrina year, how much buffett has made? a fortune. what was that, 2005? >> yeah. >> but i do wonder if you did have trading this morning, what somebody look travelers or berkshire would be trading at. >> but weaved had less hurricanes since 2005 than you would think. >> refinery, do you know anything about the plants around here? >> i don't know the specific plans, but i know that's certainly a risk. about 7% of the nation's refining is done here in new jersey and dwell wear. and they're right in the path. absolutely right in the path. so i would expect to see those guys shut in if they haven't already. which will impact obviously gas prices. >> there was speculation how you could see oil prices drop because no one will be taking supply. >> that's true. absolutely. >> paul, thank you very much. you'll be in-house with us. >> i'm weathering the storm here. >> andrew, i'm not kidding, last week, a sociologist writing for the huffington "post" said if this doesn't get us to completely try to get off all fossil fuels as quickly as we possibly
activity. >> it will depend on what the damage actually is when we get through the process. katrina when it hit new orleans was one thing about a it was so devastating, it wiped out literally homes and roads and bridges and caused a mass amount of devastation, so a huge amount of rebuilding there. what's important here going forward is that you are going to get economic support from this at least in the short term. is there a lot of severe structural damage that has to be replaced. but about don't forget one thing, when you can to this type of activity, there is one negative impact of this longer term which is that you pull forward future activity. so money spent today that would have been spent potentially later on. so a short term boost for the economy and longer it term still the concerns of the overall weakness. >> especially when it comes to flood insurance, a lot of that comes from the federal coughers when they're under more scrutiny than ever. going into next year, do you expect this to change the tenor around government spending at all? >> well, that's kind of an interesting que
're operating. this is cover of "the washington post." this is new york's katrina. obviously the death toll compared to that storm nowhere near approaching it but still 20 some odd people dead in new york alone. 2 million people without power. for those of you that live around here, we hope you're safe and your homes are okay and families are okay. if you're in other parts of the country or the world trying to trade today, there are going to be business decisions, trading decisions to be made. >> we don't know how badly the insurance is going to do. it's up to you. you may think it's bad for insurance. maybe it's good. we don't have a good ballpark of how much and more importantly, so much of the damage is flooding, which historically has been one of those things where you call the insurance company and they say did you read the fine print? we don't cover flooding. the federal government has at various times extended flood insurance and helped people. particularly when anyone remembers the fiasco where the federal government says, listen rich people, you can build beautiful houses again. th
in the wake of a major disaster. so it's probably no surprise that back in 2005, hurricanes katrina and rita drained the fund and plunged the program $18 billion into debt. it's debt congress planned to forgive, but hasn't yet. that leaves the program on poor financial footing with only about $4 billion worth of funds available for claims related to sandy. >> from what i've seen, this could be a $5 billion to $10 billion flooding event, so more than likely, the program will have to go to congress to get additional borrowing authority. >> reporter: former program administrator david maurstad says the program will probably ve to turno coress for help paying claims. >> it's still an obligation that our government said we're going to have this program-- "you buy a policy, we're going to take care of it." and i have every confidence to believe that that will happen. there will be some mechanics that will be involved, possibly, depending on how large of an event this turns out to be. >> reporter: what could be a bigger problem are the number of people affected who don't have flood insurance. gener
by people who believe in its purpose and mission and it evoked the images of katrina which is the worst metaphor for mitt romney. and i think the president has surfed the wrong of this, and it's on the emotions of the public. >> yes, i don't think obama was trying to use it politically. i think he was trying to do thinks job. i think chris christie was trying to do his job. i also think that chris christie understands that he faces re-election in a pretty democratic state, and obama understands that he faces re-election next week. those are political realities. they're politicians, and they don't deny that. but they were doing their jobs, and i think christie's role here, as i'm sure you know as a former governor, it was a big deal for christie to come out and do what he did. that also really hurt romney. >> eliot: yes, that was the political maneuver of the week. he played it perfectly. switch gears for a moment. i don't want to say that anything is over and done, but the president is comfortable. the united states senate, a pivot or blocking position for the past couple of years. any
very well. i discovered this stock after hurricane katrina. i'd never heard of it before and all of a sudden katrina came through, it went from augus august 2052 this yea 2005. they made an acquisition. the made an acquisition 1.2 $1.5 all cash acquisition. what i like about this, they do the hazard that have safety-kleen to recycle last year they took 400 million gallons of waste and turn it into reusable. they cleaned it up and were able to sell it. i think this is a perfect fit. this is not just a hurricane play, so we're going long-term. a trend that will be absolutely phenomenal. i don't know why the stock is down so much but i that it is at opportunity. cheryl: you have one more, i believe as well. >> g. nrc, so a lot of stuff out about it. after we talked in front of the stock traded more than 100% daily volume, the ceo has gone bonkers. this'll be huge for them to a lot of people have thought about getting a generator. people's minds will be made up in the next week or so. these are not the $900 generators. we have an order in for one of them just two weeks ago and i am n
a look at what's going on. the first thing, we noticed how much it felt like katrina to us there are differences, there are no casualties here, but it felt like new orleans going down the watery streets and looking in the window, seeing men, women, and children waving at us. most of them were smiling. the reason they are smiling, the water is receding. it will continue to recede and perhaps as early as tomorrow, they will be able to start walking out of their houses. not guaranteed just yet. we saw scores of people waving at us, waiting to get out of their home. we saw a case of some people trying to leave. seemed confused. two people driving vehicles through four feet of water. they got stuck, then started pushing their cars. a police officer with us on the front loader got out, took the woman, put the woman on her shoulder, brought her to the shovel we were sitting in. the mayor and i helped pull the woman in that's the situation. incredible. right behind me, people in the dark and the cold waiting to be able to come out of their homes safely. >> it's amazing as you tell
than triple what hurricane irene cost. but still far plea record costs of hurricane katrina several years ago. governor christy hie has pledgeo rebuild the shore but that would come at an even greater cost. and where he withstand, we have to tell you as we were driving in, there are actually school buses blocking the flooded roads. you can imagine with no school in session and very thin police availability given everything that's going on, all the emergency situations, they're use aing school buses to deter cars from going down dangerous roads.aing school buses to dete cars from going down dangerous roads.ing school buses to deters from going down dangerous roads. this boat was across the street and police have propped it up to get it out of the way so that emergency vehicles can keep going. of course that's the only way that you can get on the island here. back to you. >> have there been other people that you've seen out on the streets or is it pretty deserted aside from the emergency personnel? >> reporter: it's actually very deserted. and it's pretty eerie. i've seen all the pict
, the west coast. >> that was one of famous of our colleagues years ago, during katrina, we were talking about how many poles had been town and she looked in to the camera and said just know it stay calm, help is on the way. and we all said no one can hear you. they don't have power. it was a very heartfelt sincere help is on the way, but the people that needed it were not in front of the tv set at the time. >> you send out a reminder e-mail is down. >> and then by the time it's back up -- >> isn't it crazy that e-mail is work something. >> you're right, verizon was working. >> coming up, we'll talk to governor markell to check out the damage in delaware. well find out how his state made it through the night. up. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. governor of getting i
katrina hit and some of the people who were evacuated from new orleans were brought to massachusetts, we gathered them at a military base on cape cod. they thought there are going to houston, by the way. [laughter] and when the airplane said, no, we're going to boston, there were not very happy because it is colder and boston. so the king to give cod. we told our citizens that there were people coming from new orleans who were affected by the hurricane and they might need help. and you know what? there were cars lined up. people dropping of all sorts of goods of all kinds, some things that were temporary like food, but also of tv sets and) it was amazing to see the turn out. it is part of the american way. we have people right now that are having some hard times because of this terrible hurricane and the storm that followed it. and your generosity will make a difference. i want to thank you. we have some work to do. but to make this an enjoyable were sitting, we have asked a great entertainer, randy owen of alabama, to be here. [applause] he is an extraordinary guy. he will probably tell
in lives and economic damage might be less than katrina. i know our insurance analyst has talked about the size of the liability being half, which is good news. and i think there's going to be some affect on auto sales and consumer retail spending. but, again, if those stocks take a dip, that's going to be a pretty big opportunity. because we know when you have to fix a broken window you end up with more spending. overall, this could be a boost to the economy. i think it's going to be viewed as an opportunity. i think we're seeing in some of the premarket activity. >> i never know really whether to believe that or not. i see with insurance companies and i've seen the case made, the broken window case that you eventually have to fix it. net net, replacing things that may have been -- didn't need replacing and using capital to do that, i can't believe that, you know, spending $20 billion on what you didn't have to do before can be net net be good long-term. is that really true? is that the case that economists make? >> well, i think it depends on how much credit is involved. in other wor
does to the economy. >> it does have a big impact, though. because back to katrina for example. that was $75 billion of insured losses. which meant that the economic losses were over $100 billion. so usual talking a very big deal here. companies start to assess how much the business was disrupted. accessibility to their business. the ability of their employees to come to work. you don't start to see contamination issues and environmental issues until later on. but it's unfortunate to say and you asked me a very valid question, it's unfortunate to say that i think this number could be very big. >> the other question is who pays for all of this because the flooding, a lot of this will go to the national flood insurance program. but at some point, who ends up picking up the tab. >> i think mostly the insurance companies, becky. there's three sources of ways to fund catastrophes. you have the national flood insurance program as you mentioned, but that's under fema. fema stands for federal emergency management agency. and that's basically a response mechanism and i think they're doi
resources well. i think government will perform well. this is not going to be katrina. when government performs well, they t re-emphasizes in people's minds that government does matter. >> what's your take on the early voting story? you have a new poll showing governor romney still in the lead and certainly they're tied, 47% each, cwhen you look at eary voting turnout. how much of an impact does this storm have on early voting turnout? >> well, some, but so many people have voted. look at ohio. a third of the voters have will be cast their votes. i think early voting has helped with the democratic base. i think the democratic base has gotten more and more enthusiastic, more and more fired up. you're seeing that with the long lines in places in urban centers which tend to be democratic. i think it's going to be a surprisingly good democratic turn youtd. >> all right. we'll leave it there. governor, good to have you on the program. >>> let's go back to julia boorst boorstin. we have more on the disney/lucas film deal. >> that's right, maria. walt disney is acquiring lucas films for $4.05
sandy didn't hit oil production facilities like hurricanes in the past, like katrina did in the gulf of mexico. so while folks are struggling in the northeast, i definitely sympathize, the situation could have been a lot worse if it hit some of the bigger petroleum sector infrastructure systems. >> and so you said prices in some parts of the country are going down. where do you think prices go in the near future? >> well, i think in pockets of the northeast that continue to be hit with supply crunches, you're going to see price increases. but for the next several weeks, i think you're going to see ripple effects of lower prices across most parts of the country. >> i see. all right. we'll leave it there. good to have you on the program, sir. thank you so much. >> my pleasure. >> see you soon. >>> up next, countdown the closely watched jobs report out first thing tomorrow morning. we'll give you the handicapping of it. stay with us. uh, i'm in a timeout because apparently riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal th
doesn't have a hurricane katrina response, there's going to be some rallying effect whenever there's a national crisis. this seems to have benefitted the president. he hasn't made any obvious mistakes. now, of course, there's still a bit of time, but i think by the time people become disenchanted with the response, that'll be sometime after the election day. so it does appear that mother nature is voting democratic this year. >> well, the images of the president and chris christie have been everywhere. of course, christie has been very outspoken as the rnc keynote speaker. he describes obama as, quote, blindly walking around the white house looking for a clue. i think there was a bit of a love fest between him and the president yesterday. let me play some of that. >> we spent a significant afternoon together surveying the damage up and down the new jersey coastline. so i want to thank him for that. he has worked incredibly closely with me since before the storm hit. i think this is our sixth conversation since the weekend. >> at the top of my list, i have to say governor christie,
Search Results 0 to 49 of about 62 (some duplicates have been removed)